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Fast Lane Ventures forms JV partnership with VTB Capital Venture Business.

TELECOMWORLDWIRE-April 25, 2012-Fast Lane Ventures forms JV partnership with VTB Capital Venture Business(C)1994-2012 M2 COMMUNICATIONS

Fast Lane Ventures, a developer of Internet companies in the Russian Internet market, announced on Wednesday that it has entered into a joint venture partnership with VTB Capital Venture Business, a venture capital company in the Russian and CIS venture capital market.

Under the agreement, VTB Capital Venture Business has led a series C investment into Fast Lane Ventures, valued at USD18m. The funds will be used to develop Fast Lane Ventures' current portfolio of companies and provide finance for new investments, as well help to further strengthen the company's team and expertise.

Fast Lane Ventures added that it has launched eighteen fast growing companies online, two of which have been successfully purchased by strategic investors. A total of USD60m in investments has been made in Fast Lane Ventures and its portfolio companies, by investors such as Direct Group, eVenture Capital Partners, Kinnevik, Russia Partners, Intel Capital and UMJ (Russia).

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Date:Apr 25, 2012
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